Results 6,201-6,220 of 32,602 for speaker:Paschal Donohoe

Written Answers — Department of Finance: Banking Sector (27 Jan 2022)

Paschal Donohoe: The Deputy will be aware that Banks are designated persons under the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010, and consequently have Anti-Money Laundering / Countering the Financing of Terrorism (AML/CFT) obligations to meet under that legislation. In meeting these obligations, banks are required to adopt a risk based approach as to how they conduct their business...

Written Answers — Department of Finance: Banking Sector (27 Jan 2022)

Paschal Donohoe: I propose to take Questions Nos. 176, 177, 178, 179 and 182 together. As the Deputy may be aware, as Minister for Finance, I have no role in the commercial decisions made by any bank in the State. This includes banks in which the State has a shareholding. Decisions in this regard are the sole responsibility of the board and management of the banks which must be run on an independent...

Written Answers — Department of Finance: Banking Sector (27 Jan 2022)

Paschal Donohoe: I propose to take Questions Nos. 180 and 181 together. I thank the Deputy for his questions. Officials from my Department contacted the Central Bank of Ireland and received the following response: "The Central Bank intervenes, within the scope of its regulatory mandate, to ensure the interests of consumers and investors are protected by focusing on the issues that pose the greatest potential...

Written Answers — Department of Finance: Financial Services (27 Jan 2022)

Paschal Donohoe: Firstly, I must point out that the Financial Services and Pensions Ombudsman (FSPO) is independent in the performance of his statutory functions. I have no role in the day to day workings of the office or in the decisions which he takes. The redress that can be directed by the Financial Services and Pensions Ombudsman is outlined in the Financial Services and Pensions Ombudsman Act 2017,...

Cost of Living: Motion [Private Members] (26 Jan 2022)

Paschal Donohoe: I thank the Labour Party for bringing forward this motion. While I do not support it, it is a very valuable opportunity for the Dáil to reflect on where our economy, society, citizens and workers stand today as we continue to see very significant change and new pressures in our economy, with which I will deal in my statement. I acknowledge some common ground on the issues being raised...

Written Answers — Department of Finance: Tax Exemptions (26 Jan 2022)

Paschal Donohoe: Last week the Government agreed to give a recognition payment of €1,000, for eligible frontline health and ambulance workers. An equivalent payment will be provided for relevant staff in private sector nursing homes and hospices that were affected by Covid-19. The intention is that the payment will not be subject to income tax, USC or PRSI. There are no plans to extend the proposed tax...

Written Answers — Department of Finance: Electronic Commerce (26 Jan 2022)

Paschal Donohoe: The company in question is authorised by the Central Bank as an electronic money institution pursuant to Regulation 9 of the European Communities (Electronic Money) Regulations 2011 (as amended) (EMR). These gift cards meet the definition of “electronic money” and are subject to regulation under the aforementioned Regulations. It should be noted that Vouchers that are deemed...

Written Answers — Department of Finance: Tax Reliefs (26 Jan 2022)

Paschal Donohoe: I am advised by Revenue that section 469 of the Taxes Consolidation Act 1997 (TCA 1997) provides for tax relief in respect of qualifying health expenses. Only “health expenses” incurred in the provision of “health care”, which has been carried out or advised by a “practitioner”, will qualify for tax relief. Health care is defined as the...

Written Answers — Department of Finance: Pensions Reform (26 Jan 2022)

Paschal Donohoe: The pension fund levy was introduced in 2011 in the wake of the financial crash and at a time when the economy was in serious difficulties, with all sectors contributing to the recovery plan. In this context, the levy was designed to claw back a small amount of the very significant tax relief that those contributing to pension arrangements had benefitted from over many years. It was...

Written Answers — Department of Finance: Banking Sector (26 Jan 2022)

Paschal Donohoe: In answer to the first part of the Deputy’s question, the accounting rules, including those related to declarations and payments of distributions that banks, in common with all companies, are governed by the Companies Act 2014. It is the responsibility of the Directors of the respective banks to ensure these rules have been properly applied. The International Financial Reporting...

Written Answers — Department of Finance: Revenue Commissioners (26 Jan 2022)

Paschal Donohoe: I am advised by Revenue that the rationalisation and integration of General Service and Departmental Taxes grading structures in Revenue followed an extensive industrial relations negotiation and communications process more than 18 years ago, in the lead-up to Integration Day on 1 January 2003. In the period prior to Integration Day, Revenue engaged in very extensive communications with staff...

Written Answers — Department of Finance: Tax Credits (26 Jan 2022)

Paschal Donohoe: I am advised by Revenue that taxpayers claiming additional tax credits such as health expenses can upload the relevant receipts in support of the claim when submitting their income tax return in preference to retaining them for inspection for a period of six years. However, it is not mandatory to do so, providing the original receipts are kept for the required six-year period. Revenue has...

Written Answers — Department of Finance: Tax Code (26 Jan 2022)

Paschal Donohoe: I propose to take Questions Nos. 53 to 55, inclusive, together. Section 531AAD of the Taxes Consolidation Act 1997 provides for a charge to be levied on bonus and similar payments over €20,000 paid to employees of financial institutions that received financial support from the State under the Credit Institutions (Financial Support) Act 2008. This charge, known as the “excess...

Written Answers — Department of Finance: Departmental Contracts (26 Jan 2022)

Paschal Donohoe: The following table provides details of contracts in relation to Covid-19 entered into by my Department since the beginning of the pandemic: With regard to the Bodies under the Aegis of my Department that incurred expenditure on COVID-19 related contracts, the information supplied to my Department from those Bodies is in the table below. It should be noted that the National Treasury...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Estimates for Public Services 2022
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (26 Jan 2022)

Paschal Donohoe: I thank the committee for the opportunity to appear before it today to discuss the 2022 Revised Estimates. As Minister for Finance, I will be discussing the four Votes within the finance group of Votes. They are Vote 7 - Office of the Minister for Finance; Vote 8 - Office of the Comptroller and Auditor General; Vote 9 - Office of the Revenue Commissioners; and Vote 10 - Tax Appeals...